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Feature | January 2015

Unstoppable giant

With an integrated presence across the hydrocarbon value chain and a rich heritage legacy behind it, ONGC is all set to enhance its exploration activities.
ONGC along with its group companies has witnessed yet another year of sustained performance, success and growth not only in its core activities of Exploration and Production (E&P) of crude oil and natural gas but also in other areas where it has engaged itself significantly.

Recent developments

  • ONGC Deepwater drilling group set a world record of drilling the deepest ultra-deepwater well by successfully reaching the target depth of 7,725 m. The well, KGDWN-2005/1-D-1 drilled by the Rig DDKG1 has set two records รป firstly, the world record of a well at the deepest water depth of 3,174m and secondly, drilling the deepest offshore well of 7,725m.
  • ONGC accreted 84.99 MMToe of ultimate reserves in the domestic fields (ONGC operated); the highest in the last 23 years.

New projects

  • Seven onshore and seven offshore discoveries.
  • Two oil bearing + three oil & gas bearing + nine gas bearing discoveries.
  • Six discoveries in the new prospects + eight new pool discoveries.
  • Five discoveries in NELP
  • blocks + nine in nomination PML block.

Regulatory reforms - Gas price revision

  • In October 2014, the government also announced revision of the gas prices with effect from 1st November 2014.
  • The new price set at $5.05/mmbtu on a gross calorific value which is equivalent to $5.6/mmbtu on a Net Calorific Value basis vs.
  • 2010 price of $4.2/ mmbtu (on net calorific value basis).

Strong domestic asset base

  • Process installations: 13
  • Offshore installations: 215
  • Onshore installations: 250
  • Pipelines: 28,139 km
  • Well stimulation vessel 1 + 1(1)
  • Seismic crews 23 + 4 (VSP)
  • Drilling rigs 77 + 31(1)
  • Work-over Rigs 57 + 25 (1)
  • Well logging units 27 + 52(1)
  • Well stimulation units: 116
  • Diversified talent: 33,911 (72 per cent technical).
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